4 Mergers and Acquisitions Stock Stories Making Business Headlines on Thursday
Baidu Inc. (NASDAQ:BIDU): Current price $97.08
According to Marbridge Daily, an industry insider says that Chinese Internet firm Baidu’s mobile reading, music, and gaming platform Duoku has purchased mobile game information and download portal Ptbus.com. Earlier this year, Sun Zude left Chinese flash mini-game portal 7k7k to join Baidu Duoku as its chief executive. Ptbus is currently recruiting candidates for its own CEO role.
EMC Corp. (NYSE:EMC): Current price $24.58
EMC on Thursday said it will acquire the privately held ScaleIO, which pioneered in server-side storage software. The purchase should further reinforce the EMC Flash portfolio by uniting ScaleIO’s highly scalable server software with PCIe Flash cards like EMC XtremSF in Enterprise Private Cloud and Service Provider environments. Following the close, ScaleIO will operate inside the EMC Flash Product division. Terms of the deal were not reported, but it is not anticipated that the all-cash transaction will have a material impact to EMC GAAP or non-GAAP EPS for the full 2013 fiscal year.
Baxter International Inc. (NYSE:BAX): Current price $72.62
Two sources told Reuters that European Commission antitrust regulators will OK a $4-billion bid by Baxter International for Sweden’s Gambro AB after the firm offered to divest a unit in order to assuage competition fear. The deal would make the buyer the second-largest manufacturer in the dialysis market, a sector that is expected to expand in tandem with rising rates of obesity and diabetes. Gambro, based in Lund, Sweden, is one of the top manufacturers of equipment for hemodialysis.
Actavis Inc. (NYSE:ACT): Current price $125.00
Actavis and Warner Chilcott (NASDAQ:WCRX) reported that they have each received a request for additional information from the Federal Trade Commission in relation to Actavis’s pending purchase of Warner Chilcott. The information request was released under notification requirements of the amended Hart-Scott-Rodino Antitrust Improvements Act of 1976. The effect of the second request is to prolong the waiting period imposed by the act until 30 days after the parties have substantially complied with the request, provided the period is not extended voluntarily by the parties or terminated sooner by the FTC. Actavis and Warner Chilcott expect the transaction to close in the second half.